Indian rupee closes at 88.12 against US dollar
The rupee dipped slightly on Tuesday, ending at 88.12 against the US dollar—down by 3 paise.
This drop comes as investors worry about possible new US tariffs on India and keep pulling money out of Indian markets.
The rupee opened at 87.98, touched a low of 88.19 during the day, and closed lower than it started.
Earlier this month, on September 2, it had hit a record low of 88.15.
Foreign funds pulling out of Indian markets
Foreign funds have been leaving Indian markets lately, adding pressure on the rupee even though global oil prices are ticking up and the dollar index has slipped a bit.
Interestingly, Indian stock markets stayed upbeat—Sensex jumped over 300 points and Nifty gained nearly 100 points today.
Looking ahead, Anuj Choudhary from Mirae Asset ShareKhan says unresolved trade issues with the US could keep weighing down the rupee: Recent comments from US officials have only added to market jitters.